Overview
- Peachtree Group announced $12 million in USDA Business & Industry bridge financing and $6 million in C-PACE funding to buy and renovate the 78-key Byways Hotel Portfolio in Alpine and Fort Davis, Texas.
- The portfolio comprises the Holland Hotel, which will grow from 27 to 28 rooms, Hotel Limpia with 30 rooms, and the 21-room Maverick Inn.
- Peachtree plans to convert the bridge loan into longer-term USDA financing after the renovations are complete.
- C-PACE provides long-term, fixed-rate funding for energy and resiliency upgrades, which can cut utility use and reduce the overall cost of capital by tying repayment to a property assessment.
- Planned work includes a new restaurant layout and added amenities at the Holland Hotel, with the projects expected to preserve about 30 full-time jobs, add roughly 25 new roles, and strengthen the tax base as Big Bend tourism grows.